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The Republican Party’s 2024 platform described Biden’s order as a hindrance to AI innovation, saying, “In its place, Republicans support AI Development rooted in Free Speech and Human Flourishing.”
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Trump had criticized Biden’s AI regulations as heavy-handed and hindering tech innovation, arguing that overregulation stifles creativity and economic growth.
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In a Jan. 20 list of presidential actions, Trump revoked Biden’s 2023 executive order that created standards for AI safety and security, including requiring AI makers to share safety test information with the government.
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US President Donald Trump quickly axed a raft of former President Joe Biden’s executive orders on his first day back in the White House — including a sweeping artificial intelligence executive order.
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The decision to extradite the former crypto executive to the US follows a legal battle that took several turns, with extradition being reversed more than once. US and South Korean prosecutors have requested Kwon’s extradition to stand trial for offenses in their jurisdictions.
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After the country’s constitutional court dismissed Kwon’s appeal, the Montenegrin Minister of Justice Bojan Božović approved Terraform Labs co-founder Do Kwon’s extradition to the United States.
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While bigger transactions are affected, the Turkish government said the new rule will not apply to crypto users transacting with amounts below the $425 threshold. The new rule is set to take effect on Feb. 25, 2025.
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The organization argued that the rule violates the Administrative Procedure Act and risks crippling the digital asset space in the country.
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Turkey also introduced new crypto reporting rules to combat money laundering. Under the new regime, users transacting with more than 15,000 Turkish lira (about $425) must share their information with the country’s service providers.
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Kristin Smith, the CEO of the Blockchain Association, said that they are taking action and are standing with the nation’s innovators to “ensure the future” of crypto and DeFi in the US.
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In response to the new IRS rules, the Blockchain Association and the Texas Blockchain Council filed a lawsuit against the IRS, arguing that the rules are unconstitutional.
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With the new rules, DEXs could be treated as brokers if the decentralized finance (DeFi) platform facilitates the exchange or sale of digital assets and exercises sufficient control or influence on the transaction process.
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Once the rules take effect in 2027, brokers will be required to disclose information about taxpayers involved in digital asset transactions. The brokers will also be required to report their gross proceeds from crypto and other digital asset sales.
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The United States Internal Revenue Service (IRS) issued regulations requiring brokers to report digital asset transactions, expanding on existing requirements to include platforms like decentralized exchanges (DEXs).
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The decision to extradite the former crypto executive to the US follows a legal battle that took several turns, with extradition being reversed more than once. US and South Korean prosecutors have requested Kwon’s extradition to stand trial for offenses in their jurisdictions.
0 reply
2 recasts
16 reactions
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jolinene70p
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After the country’s constitutional court dismissed Kwon’s appeal, the Montenegrin Minister of Justice Bojan Božović approved Terraform Labs co-founder Do Kwon’s extradition to the United States.
0 reply
1 recast
17 reactions
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While bigger transactions are affected, the Turkish government said the new rule will not apply to crypto users transacting with amounts below the $425 threshold. The new rule is set to take effect on Feb. 25, 2025.
0 reply
1 recast
16 reactions
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Turkey also introduced new crypto reporting rules to combat money laundering. Under the new regime, users transacting with more than 15,000 Turkish lira (about $425) must share their information with the country’s service providers.
0 reply
2 recasts
15 reactions
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The organization argued that the rule violates the Administrative Procedure Act and risks crippling the digital asset space in the country.
0 reply
2 recasts
14 reactions
jolinene70p pfp
jolinene70p
@jolinene70p
Kristin Smith, the CEO of the Blockchain Association, said that they are taking action and are standing with the nation’s innovators to “ensure the future” of crypto and DeFi in the US.
0 reply
1 recast
13 reactions